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Three Obstacles to Homeownership

Tuesday, March 1, 2016   /   by Tom Nickley

Three Obstacles to Homeownership

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Today we’re going to talk about obstacles to homeownership and whether or not they’re real or perceived. A lot of people don’t think they can afford a home, but they really can. There are some obstacles to homeownership, but many of them are manageable.

    • Down payments are one thing that keep people from buying homes. A 20% down payment is not a requirement . There are many loan programs that don’t require 20%, such as a VA, FHA, or USDA loan. Sometimes a down payment isn’t even required.
    • Credit scores are also keeping people from buying. Your score does not need to be above 700 to purchase a home. Even people in the low 600 range can purchase.
    • Your debt to income ratio is also something that might be stopping you, but it shouldn’t. There are programs that allow people to purchase with a 50% debt to income ratio.

I think the obstacles to homeownership are myths rather than based in reality. I encourage you to speak with me if you’re interested in buying or selling a home.

I look forward to hearing from you!

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The Nickley Group
Tom Nickley
11 S. Bumby Ave, Suite 200
Orlando, FL 32803

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